Twitter (NYSE:TWTR) earnings for the second quarter of fiscal year 2020 had TWTR stock climbing higher on Thursday. This comes after the company reported adjusted losses per share of $1.39 on revenue of $683.44 million. Those are both below Wall Street’s estimates of flat EPS and revenue of $707.51 million.
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Additionally, the company reported GAAP losses per share of $1.56 for the quarter.
Let’s take a deeper dive into the most recent Twitter earnings report below.
- Adjusted per-share losses are a negative switch from earnings per share (EPS) of $1.58 reported at the same time last year.
- Revenue for the quarter comes in 19% lower compared to $841.38 million in the first quarter of 2019.
- Operating loss of $124 million is a negative switch year-over-year from operating income of $76 million.
- The Twitter earnings report also includes a net loss of $1.2 billion
- That’s much worse than the company’s net income of $1.12 billion in the same period of the year prior.
- It is also worth noting that Twitter’s average monetizable DAU (mDAU) grew 34% YOY.
Twitter said this in a letter to shareholders regarding its quarterly results:
“Last week, Twitter suffered a very public and disappointing security issue. We moved quickly to address what happened, and have taken additional steps to improve resiliency against targeted social engineering attempts, implemented numerous safeguards to improve the security of our internal systems, and are working with law enforcement as they conduct their investigations. We understand our responsibilities and are committed to earning the trust of all of our stakeholders with our every action, including how we address this security issue. We will continue to be transparent in sharing our learnings and remediations.”
Twitter doesn’t include guidance in the Q2 earnings report. However, we know Wall Street is expecting adjusted EPS of 40 cents on revenue of $3.31 billion for FY2020.
TWTR stock was up as 5% as of Thursday morning.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
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